Contents - Tanzania Revenue Authority

• The climate of your business location
• Living environment of the people around (peace and
tranquility, wars, peoples income, etc)
1.4 THE RIGHT BUSINESS PARTNER
Having confirmed your business location and the necessary
infrastructure in terms of human resources, related
institutions, and relevant government departments, you
should look into other criteria of selecting the right business
partner.
• Do you have the capacity to effectively run your own
business? If yes, do you have the necessary skills to
manage your enterprise?
• Is it logical to manage the business alone or there is a
need to form partnership with other people? Here you
should take into account how you can run your enterprise
during times of sickness, emergency, etc.
• Have you observed all legal measures of establishing your
partnership or cooperation?
In looking for the right business partner, consider the
following:-
• The partner should be ready to take business risks.
• Should have appropriate education and relevant skills to
run the business.
• Should have a vision and ambition of sustaining the
business.
• Should be willing to commit dedication, time, resources,
and energy in order to develop the business.
1.5 DETERMINING THE BUSINESS STRUCTURE
Knowledge of different forms of business will enable you to
choose the appropriate structure for your new enterprise. The
following are some of the forms of business.
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